Citigroup Inc. Has $8.30 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Citigroup Inc. boosted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 367.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,476 shares of the insurance provider’s stock after buying an additional 23,956 shares during the quarter. Citigroup Inc.’s holdings in RenaissanceRe were worth $8,302,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in shares of RenaissanceRe by 94.8% in the 1st quarter. Tidal Investments LLC now owns 7,937 shares of the insurance provider’s stock valued at $1,865,000 after purchasing an additional 3,863 shares in the last quarter. Atria Investments Inc bought a new position in RenaissanceRe during the 1st quarter valued at about $1,168,000. Cetera Advisors LLC acquired a new position in RenaissanceRe in the first quarter valued at about $201,000. GAMMA Investing LLC grew its stake in RenaissanceRe by 96.9% during the second quarter. GAMMA Investing LLC now owns 569 shares of the insurance provider’s stock worth $127,000 after buying an additional 280 shares during the last quarter. Finally, Polianta Ltd acquired a new stake in shares of RenaissanceRe during the second quarter worth approximately $1,206,000. 99.97% of the stock is currently owned by institutional investors.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $286.15 on Friday. The firm has a fifty day moving average of $270.45 and a two-hundred day moving average of $246.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 4.12, a PEG ratio of 1.39 and a beta of 0.39. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm posted $8.33 earnings per share. The company’s quarterly revenue was up 52.1% on a year-over-year basis. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.55%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s payout ratio is 2.25%.

Analysts Set New Price Targets

Several brokerages have recently commented on RNR. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Evercore ISI increased their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods lowered their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Barclays started coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $293.00.

About RenaissanceRe

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.